Story excerpt provided by Crain’s Cleveland Business.
Clinical-stage biopharmaceutical company Abeona Therapeutics Inc. (Nasdaq: ABEO) on Thursday, Oct. 19, announced the closing of a public stock offering that generated gross proceeds of about $92 million.
The offering of 5 million shares also included the full exercise of the underwriters’ option to buy 750,000 additional shares, at the public offering price of $16 per share, Abeona said in a news release.
Earlier in the week, Abeona said it intended to use the net proceeds of the offering “for working capital and corporate purposes, including, without limitation, development of its product candidates, manufacturing and general and administrative expenses.”
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Originally published October 19, 2017.